CMA approves Aviva's takeover of DLG as court sanctions scheme

The Competition and Markets Authority (CMA) has given the green light to Aviva’s takeover of Direct Line Group (DLG).

The CMA launched its inquiry into the deal on 14 May 2025, with the review designed to identify whether the takeover may lead to a “realistic prospect of a substantial lessening of competition”.

This is a necessary procedural step in all merger investigations, which occurs once the CMA has sufficient information to start.

Today (1 July 2025), the CMA announced that it had now cleared Aviva’s £3.7bn acquisition of DLG. The deal has also received approval from the FCA and PRA.

Scheme implementation

The news comes as Aviva and DLG also announced that a court has today sanctioned the scheme pursuant to which the acquisition is being implemented.

The scheme can be used to action the reorganisation of a company or group structure.

Aviva and DLG said the scheme will become effective “upon the delivery of the court order to the registrar of companies, which is anticipated to occur later today”.

The two firms added that a further announcement will be made when the scheme has become effective.

Stepping down

With the scheme now being sanctioned and set to become effective soon, DLG chief executive Adam Winslow will step down alongside chief financial officer Jane Poole and the current non-executive directors.

DLG said: “Direct Line announces that Winslow and Poole have agreed, subject to and with effect from the scheme becoming effective, to step down from their respective positions as chief executive and chief financial officer of Direct Line and from the Direct Line board.

“Both will serve the first two months of their notice period on garden leave, during which time they will remain available for transitional support. They will both then leave employment and receive a payment in lieu of the remainder of their respective notice periods.”